Repsol YPF Plans US$611mn for Chubut in 2007-09

Spanish oil major Repsol YPF (NYSE: REP) plans to invest 1.9bn pesos (US$611mn) in Argentina's Chubut province from 2007-09, the province said in a statement.

The new investment projection for Chubut would represent roughly double the company's current annual investment of US$100mn in the province.

The majority of the new investment would be for offshore E&P in the Golfo San Jorge basin, the statement said.

The company also will invest in "individual investment projects," one of which appears "very promising for increasing the company's reserves" in the province, general director of Repsol YPF's Argentina, Bolvia and Brazil (ABB) division Enrique Locutura said in the statement.

Repsol YPF already has presented the project to Chubut's provincial government, according to the statement.

A spokesperson from Repsol YPF's ABB division declined to comment on the project when contacted by BNamericas.

Visit BNamericas to access our real-time news reports, 7-year archive, Fact File company database, and latest research reports. Click here for a Free two week trial to our Latin America Oil & Gas information service.

For More Information on the Offshore Rig Fleet:
RigLogix can provide the information that you need about the offshore rig fleet, whether you need utilization and industry trends or detailed reports on future rig contracts. Subscribing to RigLogix will allow you to access dozens of prebuilt reports and build your own custom reports using hundreds of available data columns. For more information about a RigLogix subscription, visit

Our Privacy Pledge

Most Popular Articles

Brent Crude Oil : $51.78/BBL 0.77%
Light Crude Oil : $50.85/BBL 0.83%
Natural Gas : $2.99/MMBtu 4.77%
Updated in last 24 hours